A red-hot housing market has set the stage for two years of migration for homebuyers seeking out sunnier and more affordable places to call home, but not all affordable markets are home to year-round summer weather. Instead, the nation’s hottest housing markets are also proving to be the coldest as the winter season approaches, but according to Realtor.com, buyers are willing to look past freezing temps to find more affordable homes.
Manchester, NH took the top spot for the most desirable market in October with a median home price of $495,000. In second place was chilly Rochester, NY, home to an affordable median listing price of $225,000, followed by Burlington, VT in third with a $460,000 median home price tag.
The Manchester, NH, metropolitan area, an hour north of Boston, took the No. 1 spot—for the 11th straight month! The Rochester metro, in New York state near the Canadian border, came in second after tying with Manchester for first place last month. (Rankings are based on the number of views that listings in these metropolitan areas receive on Realtor.com, and how quickly properties are selling.)
“In the South and West, which contain warm markets that were really popular even before the [COVID-19] pandemic, prices have just been driven so high,” says Hannah Jones, an economic data analyst at Realtor.com. “Even if they’re places people might enjoy living, many buyers have been priced out.”
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